Doral-based Spanish-language media company Univision Communications Inc. is considering a sale, The Wall Street Journal reported Wednesday.
Univision hired Morgan Stanley, Moelis & Company, and LionTree as financial advisers to determine its options, the company confirmed Wednesday. Univision has been privately held since 2006.
In a statement Wednesday, the board of directors said, “Univision has the fundamentals for continued growth on its own or with a partner — and after careful consideration, the Board and management team have concluded the time is right to explore strategic options.”
The last several years have been marked by changes for the company. In 2017, Univision faced widespread layoffs of more than 200 employees and an exodus of several executives under its new CEO, Vincent Sadusky. The company also canceled an initial public offering that had been years in the works. This year, Univision sold Gizmodo Media Group, a host of English-language sites that included The AV Club, Jezebel, The Root, and The Onion, to a private-equity firm based in Boston.
According to the Journal, Univision passed on an offer from media mogul John Malone to buy the company in 2017. At that time, the company was valued between $13.5 billion and $15 billion, the Journal reported.